FYI: We all know Buffett’s line about sitting around the poker table, but too often, we fail to apply it in our day to day trading or investing. It’s easy to fall for the latest story sweeping Wall Street without thinking about the next move, or who the narrative benefits. I am by no means immune.
The other day one of my astute new readers sent me a note that demonstrated a keen understanding of how markets really work. He didn’t bother with the headline news, but had already calculated the next move. Like a grand chess master, he wasn’t worried about the obvious noise right in front of him. Instead he had accepted that portion of the story, and figured out what that meant for the markets further out in time.
Regards,
Ted
http://themacrotourist.com/macro/an-epic-trading-tale-from-norway
